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J.P. Morgan believes that the private credit market in the Asia-Pacific region has enormous growth potential, with a focus on various Asian countries, including Australia and India. The bank points out that it has been actively building its private credit business in the Asia-Pacific region since 2019, targeting medium-sized companies with strong fundamentals but no investment-grade ratings. J.P. Morgan states that Asia is driving over 50% of global GDP growth and is home to some of the largest economies in the world. The overall debt market in Asia is only about $1.5 trillion, with strong GDP growth. In terms of private credit, the transaction size in the past two years has been only around $200 billion annually, indicating a significant gap that needs to be bridged. Therefore, it believes that the private credit market in Asia is still in its early stages.